Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 8.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 31,703 shares of the semiconductor company’s stock after selling 2,873 shares during the period. Amalgamated Bank’s holdings in Synopsys were worth $15,387,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Kieckhefer Group LLC purchased a new position in shares of Synopsys during the 4th quarter worth approximately $27,000. Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Synopsys during the fourth quarter worth $39,000. Princeton Global Asset Management LLC acquired a new stake in shares of Synopsys in the third quarter valued at $44,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys in the fourth quarter valued at $51,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Performance

NASDAQ:SNPS opened at $457.95 on Wednesday. Synopsys, Inc. has a 1 year low of $457.00 and a 1 year high of $624.80. The stock has a market cap of $70.79 billion, a P/E ratio of 31.54, a P/E/G ratio of 3.23 and a beta of 1.12. The stock has a 50-day simple moving average of $508.09 and a 200-day simple moving average of $516.89.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Morgan Stanley reduced their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Wells Fargo & Company cut their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Piper Sandler decreased their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and a consensus target price of $639.58.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.